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As seen in this issue, "On March 6, the Assembly State and Local Government Committee favorably reported on legislation (A-1425, Johnson) that represents a significant improvement for developers and municipalities in managing projects under the Municipal Land Use Law (MLUL). A-1425 modifies the requirements concerning performance bond escrowing under the MLUL: it would require performance bond escrowing for only public improvements, with some exceptions. In addition, the bill would establish a safety and stabilization bond, and streamline the temporary certificate of occupancy process. Furthermore, additional inspection fees requested would have to be itemized and justified. Meryl Gonchar (Sills Cummis & Gross), who has worked on this amendment for more than two years, testified on behalf of NAIOP. Due to NAIOP’s successful negotiations with the Society of Municipal Engineers and the League of Municipalities, there was no opposition to this needed reform. The bill was second referenced to the Assembly Appropriations Committee."

The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.

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